Sec Form 4 Filing - Longitude Venture Partners L.P. @ CORCEPT THERAPEUTICS INC - 2015-03-20

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Longitude Venture Partners L.P.
2. Issuer Name and Ticker or Trading Symbol
CORCEPT THERAPEUTICS INC [ CORT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
800 EL CAMINO REAL, SUITE 220,
3. Date of Earliest Transaction (MM/DD/YY)
03/20/2015
(Street)
MENLO PARK, CA94025
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/20/2015 X( 2 ) 634,516 A $ 2.77 13,145,097 D ( 1 )
Common Stock 03/20/2015 S( 2 ) 300,447 D $ 5.85 12,844,650 D ( 1 )
Common Stock 03/20/2015 X( 3 ) 486,443 A $ 2.77 13,331,093 D ( 1 )
Common Stock 03/20/2015 S( 3 ) 230,333 D $ 5.85 13,100,760 D ( 1 )
Common Stock 03/20/2015 X( 5 ) 9,750 A $ 2.77 182,742 I By LCA ( 4 )
Common Stock 03/20/2015 S( 5 ) 4,617 D $ 5.85 178,125 I By LCA ( 4 )
Common Stock 03/24/2015 X( 6 ) 1,130,709 A $ 2.77 14,231,469 D ( 1 )
Common Stock 03/24/2015 S( 6 ) 554,348 D $ 5.65 13,677,121 D ( 1 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (Right to Buy) $ 2.77 03/20/2015 X( 2 ) 634,516 03/25/2008 03/24/2015 Common Stock 634,516 $ 0 1,130,709 D ( 1 )
Warrant (Right to Buy) $ 2.77 03/20/2015 X( 3 ) 486,443 02/06/2009 03/24/2015 Common Stock 486,443 $ 0 0 D ( 1 )
Warrant (Right to Buy) $ 2.77 03/20/2015 X( 5 ) 9,750 02/06/2009 03/24/2015 Common Stock 9,750 $ 0 0 I By LCA ( 4 )
Warrant (Right to Buy) $ 2.77 03/24/2015 X( 6 ) 1,130,709 03/25/2008 03/24/2015 Common Stock 1,130,709 $ 0 0 D ( 1 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Longitude Venture Partners L.P.
800 EL CAMINO REAL, SUITE 220
MENLO PARK, CA94025
X X
Longitude Capital Associates, L.P.
800 EL CAMINO REAL, SUITE 220
MENLO PARK, CA94025
X
Longitude Capital Partners, LLC
800 EL CAMINO REAL, SUITE 220
MENLO PARK, CA94025
X
Tammenoms Bakker Juliet
C/O LONGITUDE CAPITAL PARTNERS, LLC
800 EL CAMINO REAL, SUITE 220
MENLO PARK, CA94025
X
Signatures
/s/ Juliet Tammenoms Bakker, as managing member ofLongitude Capital Partners, LLC, as general partner ofLongitude Venture Partners, L.P 03/24/2015
Signature of Reporting Person Date
/s/ Juliet Tammenoms Bakker, as managing member ofLongitude Capital Partners, LLC, as general partner ofLongitude Capital Associates, L.P. 03/24/2015
Signature of Reporting Person Date
/s/ Juliet Tammenoms Bakker, as managing member ofLongitude Capital Partners, LLC 03/24/2015
Signature of Reporting Person Date
/s/ Juliet Tammenoms Bakker 03/24/2015
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Reflects transactions and holdings of shares of common stock of the Issuer held of record by Longitude Venture Partners, L.P. ("LVP"). This report is filed jointly by LVP, Longitude Capital Partners, LLC ("Longitude Capital") and Juliet Tammenoms Bakker with respect to the securities held and transactions effected by LVP. LVP may also be deemed a director by virtue of its right to nominate a representative to serve on the Issuer's Board of Directors. Patrick G. Enright currently serves as LVP's representative on the Issuer's Board of Directors and files separate reports under Section 16(a) of the Securities Exchange Act of 1934 to report transactions in securities of the Issuer. Each of Longitude Capital and Ms. Bakker disclaims beneficial ownership of these securities, except to the extent of their respective pecuniary interest therein.
( 2 )On March 20, 2015, LVP exercised a warrant to purchase 634,516 shares of the Issuer's common stock for an exercise price of $2.77 per share. LVP paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 300,447 of such shares to pay the exercise price and issuing to LVP the remaining 334,069 shares. In connection with such exercise, the Issuer also paid to LVP $5.63 in cash in lieu of a fractional share.
( 3 )On March 20, 2015, LVP exercised a warrant to purchase 486,443 shares of the Issuer's common stock for an exercise price of $2.77 per share. LVP paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 230,333 of such shares to pay the exercise price and issuing to LVP the remaining 256,110 shares. In connection with such exercise, the Issuer also paid to LVP $0.94 in cash in lieu of a fractional share.
( 4 )Reflects transactions and holdings of shares of common stock of the Issuer held of record by Longitude Capital Associates, L.P. ("LCA"). This report is jointly filed by LCA, Longitude Capital and Ms. Bakker with respect to the securities held and transactions effected by LCA. Each of Longitude Capital and Ms. Bakker disclaims beneficial ownership of these securities, except to the extent of their respective pecuniary interest therein.
( 5 )On March 20, 2015, LCA exercised a warrant to purchase 9,750 shares of the Issuer's common stock for an exercise price of $2.77 per share. LCA paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 4,617 of such shares to pay the exercise price and issuing to LCA the remaining 5,133 shares. In connection with such exercise, the Issuer also paid to LCA $1.95 in cash in lieu of a fractional share.
( 6 )On March 24, 2015, LVP exercised a warrant to purchase 1,130,709 shares of the Issuer's common stock for an exercise price of $2.77 per share. LVP paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 554,348 of such shares to pay the exercise price and issuing to LVP the remaining 576,361 shares. In connection with such exercise, the Issuer also paid to LVP $2.27 in cash in lieu of a fractional share.

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